Jay Shah
Agreeing bulk annuities in a crisis
After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.
PIC completes £250m buy-in with two WPP schemes
Multinational communication services giant WPP has completed a £250m buy-in for two of its pension schemes with Pension Insurance Corporation (PIC) as the insurer celebrated a “healthy pipeline” of deals amid the Covid-19 outbreak.
PIC signs £5.8bn of bulk annuity business in H1
Pension Insurance Corporation (PIC) has so far racked up £5.8bn of buyouts and buy-ins with defined benefit schemes this year, while reinsuring £7bn of longevity risk, it has revealed.
The problem with DB superfunds
As the consultation on defined benefit (DB) consolidation closes this week, PIC's Jay Shah sets out his concerns about the superfund model
Prudential reinsures $1.2bn of PIC's longevity risk
Prudential Insurance Company of America (PICA) has agreed to reinsure around $1.2bn (£900m) of Pension Insurance Corporation's (PIC) longevity risk.
How schemes are embracing more innovative de-risking solutions
As schemes move towards cashflow negative status, many are looking to insure their members' liabilities. James Phillips explores creative ways to approach buy-ins
Converting longevity swaps into bulk annuities: The next de-risking innovation?
Longevity hedges have long been considered a hurdle to doing a bulk annuity, but a ground-breaking deal shows it doesn't have to be. Stephanie Baxter looks at why converting swaps into buy-ins is taking off.
What geopolitical shocks are in store next year?
This year has delivered several political shocks for UK schemes in the form of Brexit and the outcome of the US general election. However, as Europe gears up for a round of elections next year Helen Morrissey asks what schemes need to watch out for.
Webinar: Derisking in a post-Brexit, low-yield world
Professional Pensions is hosting a video webinar on the post-referendum outlook for pension schemes on Wednesday, 23 November, 2016 at 11am.
Siemens completes £300m buy-in with PIC
Pension Insurance Corporation (PIC) has concluded a £300m buy-in with the trustees of the VA Tech UK Pension Scheme, including a retrocession to Siemens' captive reinsurer.
DB schemes are 'too defensive' and should 're-risk into equities'
Defined benefit (DB) pension schemes should move away from index-linked gilts and increase exposure to risk assets in order to plug deficits, according to research by Fathom Consulting.
How far can the medically underwritten bulk annuity market grow?
As medically underwritten deals reach record levels, PP looks at why this market is booming.
How we won the UK Pensions Awards… PIC
In the fourth part of our series looking at what firms did to win accolades at this year's UK Pensions Awards, PP speaks to Pension Insurance Corporation head of origination Jay Shah about how the firm won the Risk Reduction Provider of the Year category....
Longevity risk: 'it's the demographics stupid'
The development of a capital market for longevity risk would ease the debt burden on future generations, Natasha Browne hears
Aon Minet agrees second buy-in
The Aon Minet Pension Scheme has secured a £100m buy-in with Pension Corporation to cover approximately a quarter of its pensioners' liabilities.
Pension Corp in £35m Mercers' Company buyout
Pension Corporation has completed the buyout of an ancient merchant trade association's defined benefit pension scheme.
Schemes remain 'highly vulnerable' to inflation increases
The overwhelming majority of pension schemes are highly vulnerable to future inflation rises, according to a joint survey by Redington and Pension Corporation.
Bulk annuity transactions up 400% but buyout affordability falls
Bulk annuity business was up fivefold in the second quarter of the year, but falling affordability pushed schemes towards buy-ins rather than buyouts, research shows.
De-risking is set to speed up in quangos
Industry figures are expecting a host of de-risking insurance deals to be undertaken by "quasi-public sector" schemes in the coming months.
BoE urged not to buy gilts if more quantitative easing occurs
Pension funds would suffer from liabilities increasing further if the Bank of England buys gilts in another round of quantitative easing, Pension Corporation says.
Toray Textiles scheme cuts £60m buyout deal with PIC
Trustees of the Toray Textiles Europe Pension Scheme have entered into a £63m pension insurance buyout with Pension Corporation.
LSE scheme enters into groundbreaking buy-in
Trustees of the London Stock Exchange Group's defined benefit plan have sealed a groundbreaking £203m deal to insure its pensioner members' liabilities after reporting a £33m increase in the scheme's surplus.
